PMR Online access    |   tel. +48 12 340 51 00    |   E-mail: info@pmrcorporate.com
 


 

Foreign trade deficit widens to €9.1bn in January-August


2011-10-12



Polish exports of goods were worth €89.3bn in January-August, while imports totalled €98.4bn, according to preliminary data from the Central Statistical Office (GUS). This translates into nominal increases of 15.3% y-o-y and 15.1% y-o-y, respectively. As a result, the country’s foreign trade deficit widened by 13.3% y-o-y to €9.1bn.

Poland’s trade balance with the countries of the European Union as well as with the wider category of developed countries improved slightly over this period, showing surpluses of €11.3bn and €9.9bn. Meanwhile, its deficit in trade with developing countries marginally increased to €12.6bn, and the deficit with the countries of Southern and Eastern Europe surged by almost 55% to €6.4bn.

Of Poland’s main trading partners, by far the highest increase in exports was to Russia (up by 31.3% y-o-y), followed by the Czech Republic (up by 20.9% y-o-y), Germany (up by 16.2% y-o-y), and Sweden (up by 15.7% y-o-y). By contrast, exports to France inched up by a meagre 1.4% y-o-y.

The biggest increase in imports was also with Russia (up by 33.4% y-o-y), followed by the Czech Republic (up by 17.3% y-o-y), Germany (up by 15.7% y-o-y) and the Netherlands (up by 15.5% y-o-y). On the other hand, imports from the United States edged up by 0.4% y-o-y.

By way of comparison, in 2010 as a whole the trade deficit amounted to €13.8bn, i.e. approximately 3.9% of GDP.



Browse and search in our archive »


subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »




Free monthly e-letter containing latest news, analyses and business information on economic situation in Poland, Russia, Bulgaria, Czech Republic, Hungary, Romania, Slovakia, Ukraine, Kazakhstan.
Relevant news
 

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.